Indian rupee strengthened against the US dollar on Monday on increased selling of the American currency by banks and exporters. Besides, a higher opening in the domestic equity market amid sustained foreign fund inflows and optimism among domestic investors ahead of the Index of Industrial production (IIP) data to be released later in the day too boosted the rupee value against the dollar. Rupee improved further on dollar’s weakness against other currencies overseas after last week's softer-than-forecast US jobs data. On the global front, the Mexican peso surged on Monday as markets trimmed the chances of a victory for Republican nominee Donald Trump's presidential bid, with his campaign in crisis after vulgar comments he made about women went public.
The partially convertible currency is currently trading at 66.59, stronger by 8 paise from its previous close of 66.67 on Friday. The currency touched a high and low of 66.61 and 66.5475 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.78 and for Euro stood at 74.27 on October 7, 2016. While the RBI’s reference rate for the Yen stood at 64.30, the reference rate for the Great Britain Pound (GBP) stood at 83.23.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 07, 2016 | 66.7875 | 83.2373 |
| October 06, 2016 | 66.6322 | 84.6695 |
